11th Annual Runzheimer Mobility Benchmark Report Highlights Vehicle Reimbursement Program Trends

Report Reveals Decentralized Approach to Vehicle Program Management Adversely Impacting Cost, Risk and Employee Engagement

41 Percent of Companies Lack Formal, Signed Reimbursement Policies

WATERFORD, Wis.--()--Runzheimer, a leading business vehicle technology and solutions provider, has released its 11th annual Workforce Mobility Benchmark Report, revealing key industry data on vehicle reimbursement programs, as well as best practices and new opportunities that will help companies develop successful growth strategies. The 2017 report includes data from more than 700 companies spanning multiple industries, and drills into a variety of business vehicle programs, including cents-per-mile (CPM), allowance, fixed and variable rate, and fleet programs, as well as topics like business vehicle policies and mobile mileage log automation.

“This report will help companies evaluate the efficiency and effectiveness of their vehicle reimbursement programs and find ways to optimize them, while also managing risk and increasing employee productivity,” said Heidi Skatrud, senior vice president of operations and product management at Runzheimer.

Highlights from this year’s benchmark report include:

  • A centralized approach to vehicle program management helps organizations better manage cost, reduce risk and increase employee engagement. Many companies manage CPM programs separately from other vehicle programs and miss these benefits.
  • Companies can manage risk by having formal, signed policies in place for their reimbursement programs. The policies may include ensuring that employees who are driving personal vehicles for business are carrying the appropriate levels of insurance and are driving safely. Approximately 41 percent of companies report that they do not require employees to sign a formal insurance policy.
  • Mobile mileage capture saves employees time, and saves companies money. In the study, automated mileage capture reduces employees’ administrative burden by up to 84 percent compared with manual mileage logging and reporting. Companies report that using mileage capture technology led to an average 17.5 percent reduction in reimbursement costs.
  • Employers have opportunities to increase visibility into mobile workforce activities. In the study, 33 percent of respondents using mobile technology to capture employee mileage are already using insights to gain territory intelligence, improve internal efficiencies or optimize territories.

Runzheimer works with businesses of all sizes – from businesses with five drivers to those with thousands – to implement the right type of reimbursement program(s) needed to improve employee satisfaction, increase sales productivity, manage risk and align with other company-specific objectives. The company also offers Equo™, its award-winning mileage capture app for best-in-class mileage log automation and analytics.

To download a copy of the full study, visit www.runzheimer.com/benchmark.

Learn more about Runzheimer at www.runzheimer.com.

About Runzheimer

Runzheimer, a business vehicle technology and solutions provider, is the recognized leader in mobile workforce management. We help organizations increase agility, reduce costs, and improve satisfaction through fair, accurate and defensible™ vehicle reimbursement programs. Our solutions deliver an effortless experience for employees while providing data, visibility and actionable intelligence for managers and executives. It is our mission to offer mobile technology and solutions that connect people, companies and their vehicles to drive superior productivity and valuable business intelligence.

Contacts

For Runzheimer
Media Contact:
Yvonne Gonzalez
yvonne.gonzalez@techimage.com
312.673.4876

Release Summary

Runzheimer 11th Annual Mobility Benchmark Report reveals 41% of companies lack formal, signed reimbursement policies, increasing cost, risk to company

Contacts

For Runzheimer
Media Contact:
Yvonne Gonzalez
yvonne.gonzalez@techimage.com
312.673.4876